LOS ANGELES — Revenue gains at Disney's parks and movie studio led to a 32 percent increase in net income during the January-March quarter. The results, which topped analyst expectations Tuesday, showed that the company's record-setting investments in a new cruise ship and multiple theme park upgrades last year are starting to pay off.

Net income grew to $1.51 billion, or 83 cents per share. Factoring out one-time items, adjusted earnings came to 79 cents per share, beating the 77 cents expected by analysts surveyed by FactSet.